Malta-based provider of sports betting solutions Kambi Group plc today reported financial results for the second quarter of the year ended June 30. Revenue for the period in review amounted to €13.7 million, up 28% from the €10.7 million reported for the same three months of the previous year.
Operating profit totaled €2 million reflecting an increase from the amount of €0.8 million posted for the second quarter of 2015. Operating margin stood at 14% compared to 7% in the previous year. The company generated profit after tax of €1.8 million during the reported period, up from the €0.5 million for the second quarter of 2015.
Cash flow from operating and investing activities, but excluding working capital, totaled €0.1 million during the second quarter of 2016 compared to cash flow of €0.2 million generated during the same thee months of the previous year.
During the reviewed period, Kambi witnessed what the company itself called “exceptional” operator turnover increase of 46% year-on-year. The sportsbook supplier launched its offering with three gambling operators – The Rank Group, Mr Green, and LeoVegas, right before the UEFA Euro 2016.
Commenting on the company’s performance during this year’s second quarter, CEO Kristian Nylén said that the Euro 2016 football tournament brought Kambi a great success from both financial and operational points of view. During the reviewed period, the supplier’s operator clients saw considerable turnover growth and the company itself managed to deliver new features.
Although unfavorable sports results during the first part of the quarter affected the company’s margins, these were partly offset by Euro 2016, the executive added. Mr. Nylén also pointed to the successful implementation of Kambi’s HTML5 client as one of the quarter’s highlights.
The sports betting supplier remains committed to implementing its growth strategy, which includes investment in people and technology and building up service that would drive growth for international gambling operators deploying its sportsbook.
It was announced on Tuesday that Kambi has partnered with Spanish provider of gambling products and services for both the land-based and online gambling industry R. Franco Group. The latter company would take advantage of Kambi’s sportsbook to complement its omni-channel offering. In addition, the Malta-based supplier of sports betting solutions would support its Spanish partner’s expansion into the Latin American gambling market.
